$3,000 Gold Is Inevitable – The Daily Dive
Starting us off this week on the Daily Dive is Collin Kettell, the founder and executive chairman of New Found Gold Corp (TSXV: NFG). Collin joins us to talk about the gold price (0:43), the possibility of US$3,000 gold (2:19), and industry interest rates (3:36). He also shares the latest company updates (4:40) and his outlook for gold in 2022 (10:02).
New Found Gold is currently advancing its 100%-owned Queensway gold project in Gander, Newfoundland. The firm is owned 32% by Palisades Gold, in which Collin is also the founder and executive chairman. With his recently augmented investment in the company, Eric Sprott effectively owns 23% equity, while the rest is shared by Novo Resources, management, and investors.
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This is all horseshit. Yes, we have enormous debt issuance at spectacular levels, but no one asks “if gold goes up when you print more money, then why has gold gone DOWN in the last year?” Collin seems to be a nice guy, but my impression is he is way too young to have experienced the 1001 nasty ways the gold market CAN and WILL mess you up. NFG’s stock price has gone down 38% in the last 6 months. Novo’s stock price has dropped 32% in the last 3 YEARS. Eric’s big investment in Pure Gold is down 70% YTD.